A major market rally on the month saw TOPIX rising over 10%. Most Japan long/shorts were in positive territory with some posting exceptional results.
Sector Zen was up 11.59% to take three-month numbers to 15.82% and Strategic Evarich saw a 10.37% month leave three- month figures at 14.93%. Myojo Riodas was up 14.25% on the month taking first quarter returns to 0.55%. During the month the fund benefitted from long positions in steel and electric components.
Hachiman Japan was up 6.17% for the month which left three-month figures at 10.03%. Gains came from the long book with Alps